Identity issues cost retailers millions

As we approach the peak holiday shopping season a new survey of nearly 400 IT security decision-makers and retail customers from identity specialist HYPR shows that 58 percent of retail organizations experienced at least one authentication-related breach and 65 percent were victims of identity fraud over the last 12 months. Retailers have suffered losses of up to $6.27 million in the last year alone due to insecure authentication methods. By contrast financial institutions reported only $4.57 million lost during the same period. 'This holiday season, retailers are facing a perfect storm of increased online traffic and heightened security risks. Our… [Continue Reading]